{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-089086","form_type":"8-K","ticker":"TW","cik":"0001758730","company_name":"Tradeweb Markets Inc.","filed_at":"2024-04-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:19.923612+00:00","generated_at":"2026-06-04T01:26:46.365122+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Tradeweb to acquire ICD for $785M cash, expanding into corporate treasury","bullets":["Purchase price $785M in cash, funded from cash on hand; no debt financing.","ICD serves 500+ corporate treasuries, 17% of S&P 100, with $230B+ avg daily balances in 2023.","Expected adjusted EPS accretive within 12 months of closing; meets ROIC targets.","ICD adds corporate client channel alongside institutional, wholesale, retail.","Closing expected H2 2024, subject to regulatory approvals and customary conditions."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-089086","json":"https://secwatch.observer/filing/0001193125-24-089086.json","markdown":"https://secwatch.observer/filing/0001193125-24-089086.md","text":"https://secwatch.observer/filing/0001193125-24-089086.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1758730/000119312524089086/0001193125-24-089086-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1758730/000119312524089086/d811217d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T01:26:46.365122+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"14348472e309b06f7c04fac509f5f40e15da8cc2","claim":"Tradeweb Markets Inc. entered into Purchase Agreement with ICD Intermediate Holdco 1, LLC, ICD Holdings, LLC, Stellus Capital Investment Corporation, Parthenon Investors V ICD Holdco AIV, LP, SCIC - ICD Blocker 1, Inc., Parthenon Investors V ICD Blocker, Inc. valued at $785 million in cash (effective 2024-04-05).","evidence_excerpt":"On April 5, 2024, Tradeweb Markets LLC (the “Buyer”), a Delaware limited liability company and a subsidiary of Tradeweb Markets Inc., a Delaware corporation (“Tradeweb Markets” and, together with Buyer and its other subsidiaries, the “Company”), entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with ICD Intermediate Holdco 1, LLC, a Delaware limited liability company (“ICD Holdco”), ICD Holdings, LLC, a Delaware limited liability company (the “ICD Seller”), Stellus Capital Investment Corporation, a Maryland corporation (the “Stellus Blocker Seller”), Parthenon Investors V ICD Holdco AIV, LP, a Delaware limited partnership (the “Parthenon Blocker Seller” and, together with the ICD Seller and the Stellus Blocker Seller, the “Sellers”), SCIC - ICD Blocker 1, Inc., a Delaware corporation (the “Stellus Blocker”), Parthenon Investors V ICD Blocker, Inc., a Delaware corporation (the “Parthenon Blocker” and, together with the Stellus Blocker, together the “Blockers”), ICD H","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1758730/000119312524089086/0001193125-24-089086-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"ICD Intermediate Holdco 1, LLC, ICD Holdings, LLC, Stellus Capital Investment Corporation, Parthenon Investors V ICD Holdco AIV, LP, SCIC - ICD Blocker 1, Inc., Parthenon Investors V ICD Blocker, Inc."},{"label":"Value","value":"$785 million in cash"},{"label":"Effective","value":"2024-04-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}